Daijiworld Media Network - Kasargod (SP)

Kasargod, Aug 6: Through a release, president of Kumble Service Cooperative Bank, K Shankar Alva, has said that Jagadish Rai P A, secretary of the bank, has been dismissed from service as he has committed irregularities, thus causing loss to the bank.

Rai had been suspended for six months from January 1, 2016 onward after allegations that he had cheated the bank and its customers surfaced. As these allegations were proved to be true during the investigation conducted by the domestic inquiry committee, he was dismissed from service with effect from July 22.

The bank's board of directors said that Jagadish Rai has been given chance to make his stand over irregularities including raising of loan by mortgaging documents standing in the name of some others clear. Once the time given to him to explain his position expires, steps would be taken to recover the amount of money the bank lost because of his action it added.

The board also has warned the general public not to transact with Rai in any way relating to bank's dealings as he has been dismissed from service.